2014 has been a massive success for Pakistan IT sector where young and passionate entrepreneurs have emerged with unique business ideas. The country which has 30 million internet users and 6.8 million smart phone users, has already grasped the attention of international as well as local investors in the tech market. The advent of small to medium tech startups like Kaymu, have revolutionized the entrepreneurial genre in the IT sector. The county having the most liberal investment policy in the South Asian region has produced some vibrant startups that have successfully got financial aid from the business community.
Here are our top 5 success stories of tech startups that have managed to attain heavy funding from various financial sources both nationally and internationally.
Kaymu, which is an online marketplace, is the venture of world’s biggest internet incubator Rocket Internet. It is currently working in more than 22 countries globally with more than 1 million visitors every day. Kaymu helps its customers to buy or sell their products easily through their online portal and now they have successfully launched their mobile application as well. Currently Kaymu is operating in five Asian countries including Pakistan, Bangladesh, Sri Lanka and Myanmar. The tech venture has recently been funded with $7 million of overall investment to focus on new markets like Pakistan.
BookMe is a web and mobile application that lets you order movie and bus tickets with a few clicks. The app initially started in Lahore but now covers the cities of Islamabad and Karachi as well. According to its CEO, Faizan Aslam, the startup is getting more than 350 orders per day which would be increasing once they expand their business to offer other transport and events tickets as well. Faizan recently represented his startup in Startup Turkey event which helped him to galvanize the Turkish investment from Etohum, a Turkish investment group. The app is operative via an android app, website and also SMS. Although e-ticketing is still a potential market with discrepancies like patchy internet connection, low credit card penetration and less internet banking, yet BookMe appears to be a promising startup in the e-ticketing market.
This unique Groopic mobile app is one of its own kind that enable the photographer to be in the picture. It is the brain child of Eyedeus Labs that was a major hit to grasp the attention of CNN correspondents. The CEO, Ali Rehan is very much optimistic after the success of his first project and is adamant to continue with the next project of Ingrain, which is a video monetization service that enables to create less intrusive ads. This has successfully secured the company with an investment of USD 150000 from Kima Ventures.
It is a multiplatform social network app that lets the teams to coordinate for their work in a media-enabled virtual environment. It can be assumed to function like Face book but it is more of a professional-like face-booking. The company that started in 2005 now has a customer base of more than 6000 people from 150 countries approximately along with the usage of 10% of Fortune 500 companies. The tech startup has been so popular and inspiring that US President Barak Obama also mentioned it in his tweet. With brilliant scope in mind, the company has attained $5 million investment from a top Venture Capitalist of Silicon Valley.
PakWheels has been a well-known online car portal for around 11 years. The company has the largest auto classified section in the country with more than 500000 listings. With mega competitors like Carmudi, penetrating the market, the company has bagged huge investment of $3.5 million from Frontier Digital Ventures to remain competitive. Its CEO Raza Saeed defends the funding to be a future investment for PakWheels to maintain its leadership, bring new offers and improve current services